Axsome Therapeutics, Inc. (NASDAQ:AXSM) Receives Average Recommendation of “Buy” from Brokerages

Shares of Axsome Therapeutics, Inc. (NASDAQ:AXSM) have earned a consensus rating of “Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Fourteen research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $125.93.

A number of analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Axsome Therapeutics in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $121.00 target price on shares of Axsome Therapeutics in a research report on Thursday, December 12th. Royal Bank of Canada raised their price objective on Axsome Therapeutics from $130.00 to $131.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Robert W. Baird upped their price target on shares of Axsome Therapeutics from $112.00 to $116.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company started coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price on the stock.

Axsome Therapeutics Stock Performance

Shares of AXSM stock opened at $90.73 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.37 and a debt-to-equity ratio of 1.97. The firm has a fifty day simple moving average of $93.65 and a two-hundred day simple moving average of $87.87. The firm has a market capitalization of $4.40 billion, a PE ratio of -13.89 and a beta of 1.18. Axsome Therapeutics has a 12 month low of $64.11 and a 12 month high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last posted its earnings results on Tuesday, November 12th. The company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.38) by $0.04. Axsome Therapeutics had a negative net margin of 91.87% and a negative return on equity of 158.36%. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $98.71 million. During the same quarter last year, the firm earned ($1.32) EPS. Analysts forecast that Axsome Therapeutics will post -4.6 EPS for the current fiscal year.

Institutional Trading of Axsome Therapeutics

Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Axsome Therapeutics during the 2nd quarter valued at about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Axsome Therapeutics in the 2nd quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Axsome Therapeutics by 22.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,736 shares of the company’s stock valued at $156,000 after acquiring an additional 318 shares during the last quarter. Moors & Cabot Inc. bought a new stake in Axsome Therapeutics in the 3rd quarter worth approximately $200,000. Finally, Whalen Wealth Management Inc. purchased a new position in shares of Axsome Therapeutics in the 3rd quarter worth $236,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.